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The fact that Mario Draghi has told a German newspaper, Handelsblatt, who does not want to be a politician but remain at the head of the ECB is not a case.
From the day after his appointment as head of the Eurotower, November 1, 2011, Dragon has done everything to annoy Berlin, prompting the action of the ECB the limits of its mandate. The main task of the ECB is to keep under control the price trend by maintaining the purchasing power of the euro area, or control inflation. And that Germany would like to restrict itself to do. However, thanks to the outbreak of the euro crisis, Draghi has implemented a series of actions that go beyond this mandate. That’s between 2011 and 2012, the ECB has bought government bonds of countries in difficulty under the program Smp ( Security Markets Program ), in the detail of 102.8 billion euro bond Italians, the largest share among the countries of the eurozone, followed by Spain (44.3 billion), Greece (33.9), Portugal (22.8) and Ireland (14.2).
Today the ECB is preparing to enter un’ingente cash in the European financial system through the purchase of bonds of the state, the so-called quantitative easing . It is a measure disliked by the northern countries, such as Germany and the Netherlands, who has been fighting a civil war to the ECB to stem the impulses of interventional Dragons, which the German Bundesbank Jens Weidmann has now become the alter ego.
Even if you can not say quite clearly, any transfer of the Dragons Quirinale would be a Christmas gift late than pleased to Berlin, an evolution of the ECB in real bank European Central today just does not want it. From here the words of Draghi German newspaper: “I do not want to be a politician. My mandate the ECB is in force until 2019 “. He who has ears to hear, let him hear.
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Come see me on: www.alessiopisano.com
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